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The interim report then comes out in autumn, something being viewed as critical in shaping a market some believe is suffering from conflicted interests in which the customer loses out.

London and International Insurance Brokers Association chief executive Chris Croft said: ”The broking community wants to do everything possible to help deliver a properly informed review by the FCA, but there is no doubt that timing is an issue.

”Every broker to whom we have spoken has expressed serious concerns about their ability to deliver complex and detailed information to a very tight timetable.

”With less than 10 weeks before the deadline and a raft of impending issues such as the year end renewals, the introduction of the GDPR, a new regime following IDD and the forthcoming SMCR, the pressure on available resources is very high. We believe an extension of the deadline would deliver a better result for the FCA.”

The FCA is making conflict of interests a top priority, having kicked off the wholesale probe last month and then fining Bluefin this month.